Carolinas Golf Foundation
- Assets
- $665.5k
- Revenue
- $203.2k
- Investments
- $0.0
- Employees
- 0
- Location
- Southern Pines, NC
- Founding
- 03/1978
- Data as of
- 12/2022
- EIN
- 59-1761556
Organization Overview
Carolinas Golf Foundation is located in Southern Pines, NC. The organization was established in 1978. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carolinas Golf Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Carolinas Golf Foundation generated $203.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $185.2k during the year ending 12/2022. While expenses have increased by 10.6% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Carolinas Golf Foundation has awarded 52 individual grants totaling $342,219. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE CAROLINAS GOLF FOUNDATION WAS FORMED BY THE CAROLINAS GOLF ASSOCIATION IN 1977 TO PROVIDE SCHOLARSHIPS AND FUNDING FOR A VARIETY OF CAROLINAS-BASED GOLF INITIATIVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION'S SCHOLARSHIP PROGRAM SUPPORTS STUDENTS WHO ARE ASPIRING TO BECOME GOLF SUPERINTENDENTS AND TURFGRASS MANAGERS IN THE CAROLINAS. THE CAROLINAS GOLF FOUNDATION UNDERWRITES GRANTS TO TURFGRASS MAJORS AT CLEMSON UNIVERSITY AND NORTH CAROLINA STATE UNIVERSITY. INDIVIDUAL GRANTS VARIED IN VALUE UP TO $2,000. CHARLES E. LYNCH JR., CGA COUNSEL, NOTED, "THIS YEAR'S WINNERS ARE THE MEN AND WOMEN WHO WILL DIRECT TOMORROW'S TURF PROGRAMS. THEY WILL DISCOVER SOLUTIONS FOR FUTURE TURFGRASS PROBLEMS. WE ARE PLEASED TO PARTICIPATE IN ENDOWING THIS ONGOING PROGRAM." THE CAROLINAS GOLF FOUNDATION FIRST OFFERED SCHOLARSHIP AID TO TURFGRASS MAJORS IN 1977. THE FOUNDATION ALSO STARTED A MORE EXPANSIVE SCHOLARSHIP PROGRAM IN 2020 BY GIVING $25,000 TO SEVERAL STUDENTS WHO EXCEL IN GRADE, COMMUNITY WORK AND WHO ALSO HAVE AN INTEREST IN GOLF. THE CAROLINAS GOLF FOUNDATION HAS PROVIDED MORE THAN $1,500,000 OVER THE LAST 37 YEARS FOR VARIOUS PROJECTS AND SCHOLARSHIPS. A PARTIAL LIST OF THE GROUPS THE CAROLINAS GOLF FOUNDATION HAS PROVIDED WITH FINANCIAL BACKING AND RESOURCES: CAROLINAS PGA, CHALLENGED GOLFERS NETWORK, CLEMSON SCHOLARSHIPS, CGCSA ROUND4RESEARCH, FAIRWAY OUTREACH, HARRIS YMCA, LPGA/USGA GIRLS PROGRAMS, MYRTLE BEACH JUNIOR GOLF FOUNDATION, NC STATE SCHOLARSHIPS, NCWGA, SEVEN FIRST TEE PROGRAMS, SALVATION ARMY PROJECT, SC JUNIOR GOLF ASSOCIATION, SIX COMMUNITY COLLEGE PROGRAMS, TRIAD YOUTH GOLF FOUNDATION, WCGA, WILMINGTON JUNIOR GOLF ACADEMY, WSCGA FOUNDATION, YOUTH ON COURSE, AND GENERAL SCHOLARSHIPS.
THE FOUNDATION HAS DONATED TO VARIOUS JUNIOR GOLF PROGRAMS INCLUDING OVER NINE CAROLINAS FIRST-TEE PROGRAMS, SEVERAL CITY-WIDE DEVELOPMENTAL PROGRAMS, THE SOUTH CAROLINA JUNIOR GOLF ASSOCIATION, THE WOMEN'S SOUTH CAROLINA GOLF ASSOCIATION, YOUTH ON COURSE AND MANY OTHER START-UP INITIATIVES.
THE CAROLINAS GOLF FOUNDATION ALSO CONCENTRATES RESEARCH GRANT AID AT CLEMSON UNIVERSITY AND NORTH CAROLINA STATE UNIVERSITY THROUGH ROUNDS4RESEARCH.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John L Nance Executive Director/trustee | OfficerTrustee | 40 | $0 |
Mike Smith President/trustee | OfficerTrustee | 2 | $0 |
Rick Riddle Vice President | OfficerTrustee | 2 | $0 |
Rion Moore Secretary | OfficerTrustee | 2 | $0 |
Lawrence Hicks Treasurer/trustee | OfficerTrustee | 2 | $0 |
Greg Norris Past President | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $32,595 |
| Fundraising events | $321,056 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $49,774 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $403,425 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$200,233 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $203,192 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $155,500 |
| Grants and other assistance to domestic individuals. | $25,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $4,671 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $185,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $665,477 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $665,477 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $665,477 |
Grants Awarded
Over the last fiscal year, Carolinas Golf Foundation has awarded $78,750 in support to 10 organizations.
| Grant Recipient | Amount |
|---|---|
FIRST TEE OF COASTAL CAROLINAS PURPOSE: TO HELP SUPPORT THEIR TOURNAMENTS AND PROGRAMS | $10,000 |
FIRST TEE OF GREATER CHARLOTTE PURPOSE: TO HELP SUPPORT THEIR TOURNAMENTS AND PROGRAMS | $5,500 |
FIRST TEE OF THE SANDHILLS PURPOSE: COACHING EXPENSES/YOUTH PROGRAMS | $10,000 |
FIRST TEE OF THE UPSTATE PURPOSE: TO HELP SUPPORT THEIR TOURNAMENTS AND PROGRAMS | $7,500 |
SOUTH CAROLINA JUNIOR GOLF ASSOCIATION PURPOSE: CLUBS FOR KIDS | $7,500 |
NORTH CAROLINA WOMEN'S GOLF ASSOCIATION PURPOSE: TO HELP SUPPORT THEIR TOURNAMENTS AND PROGRAMS | $6,000 |